If I have someone else who has better credit than me, can I use them as my credit partner or personal guarantor?
Yes. However, be sure to do this the right way. We do not want anything to do with someone using a straw buyer scheme but if you have a legitimate person who is fully aware of the role they are playing with you as your credit partner then we can help you both to ensure that this is executed properly and compliantly.
Your credit partner needs your full authorization to borrow on behalf of the business and needs to go through our consultation and compliance phone call which verifies identity and confirms their full knowledge of their role.
This is a very good option when it is done correctly and that all parties are fully aware of their roles and that all lender applications are filled out completely and honestly. Ask us for more details if you would like to learn more about working with your Mom, Dad, sibling, Uncle Louie, or any other friend or partner as a credit partner.